National Republican., 1887-05-21
Tho virginia Geperal assemblv.

The extra session Of the general assembly
Of the state Of Virginia adjourns to-day by
limitation Of law. This extra session was
called ostensibly for the purpose Of making
an adjustment with the creditors Of the
from the embarrassing condition In which
the miserable financial management Of the
Democratic party had placed It.
This was the ostenslble reason for the
extra session, and great parade was made
as to what was going to be done.
The foreign bondholders were asked to
send representatives to confer with the
general assembly that some agreement
might be arrived at, and for weeks past, a
committee Of Democrats from the assembly,
and commission claiming to represent
the creditors, have been consulting together
making proposals and counter proposals
with pretense Of great earnestness.
But all this was a sham-a mere pretense
from beginning to end. The general assem-
bly, was not called to consider the debt
question. 1t was called In the interest OF
gigantic scheme by which certain parties
were to obtain control of all, or nearly all,
the railroads Of the state and a number in
other southern states, so that q gigantic
corporation might be built up, controlling
| thousands Of miles Of railways, and, Incl.
dentally, the entire transportation of the
south.
Under cover OF the-talk about the ad-
| justment Of the state debt, the West Point
Terminal Company secured all the priv-
leges 1t wanted. The general assembly has
accomplished the work 1t was called to-
gether to do, and can very properly ad-
| journ.
| 1t is even doubtful whether the foreign
creditors of the state were really repre-.
sented by any commission. 1t is true GER
tain gentlemen, one Of whom is promi-
nent English diplomat, and doubtless had
a mission, as has been shown in the Ma
TIoNAL REPUBLICAN, were in Richmond,
but the only credentials they presented
were from the president Of the council or
| syndicate that holds the securities of some
Of the Virginia railway corporations.
| This commission, without credentials,
asked and received permission to examine
into the financial affairs of Virginia. 1t
submitted proposals and receiysd lpesp RSSaalfs
to confer by telegram with its supposed
principals in London, and 1t was notable
feature of the stock market, that on the
occasion of each OF these conferences,
Virginia state bonds, aud other Virginia
securities, were Immediately advanced in
prices.
II the general assembly Of the state of
| Virginia had been honestly called to con-
slider the debt question, instead Of to allow
the West Point Terminal Company to in
crease its stock to $40,000,000, and thus
enable 1t to consummate the "deals" it had
on hand, and to further some stock jobbing
In London, 1t is very apparent that com
mittees OF conference would not have been
appointed entirely from the Democratic
side of the assembly, as they were but that
the Republicans would have been invited to
| unite with the Democrats in an honest
| effort to adjust tine state debt. That they
were not is proof Of the insincerIty OF the
call.
Nor can the Democratic leaders In vir-
| ginia plead ignorance of the designs OF the
| foreign commission or the object for which
the assembly was called. II these had not
been known, the resolution offered early in
the session by Senator Mcdonald, Repub-
lican senator from the thirty-sixth senator
ial district, which required some evidence
Of good faith from the commission, would
not have been so promptly voted down.
The evidence is plain and cumulative
that the late session of the Virginia general
assembly was conceived and carried out for
| purposes remote from the one indicated In
the call. The debt question was not to be
considered. But the people OF Virginia in
tend to consider ito adjust and honestly
| pay what they owe.